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(a) The developer must file with the Director, concurrently with the filing of the public offering statement under Section 11A-6, copies as required by regulation of the consumer guide required under this Section. The developer must file any later amendments to the consumer guide with the Department.
(b) The purchaser shall be given at the time a contract is entered into between the developer and purchaser a consumer guide containing all information set forth in subsection (c), as well as a public offering statement. The purchaser shall be provided with any subsequent amendments to the consumer guide.
(c) The consumer guide shall be sufficient if it contains the following:
(2) Sample deed.
(3) Estimated itemized closing costs.
(4) Estimated itemized monthly housing costs, including principal, interest, taxes, condominium fee and utilities.
(5) Statement of all warranties, including statutory implied warranties.
(6) Name(s) of institutions offering long-term financing and terms, if the developer has obtained a commitment.
(7) Other information, as required by executive regulations adopted by the County Executive under method (3) of Section 2A-15 of this Code, to promote full and fair disclosure of the details of the transaction, the nature of condominium ownership and the characteristics of the particular condominium facility.
(d) A purchaser's right to receive a consumer guide may not be waived.
(e) Concurrently with the filing of the public offering statement and consumer guide with the Department, the developer must notify tenants in the rental facility in the manner
prescribed by regulation, of the filing and of the tenants' rights to review these documents.
(f) A Montgomery County property report accepted by the Director before July 1, 1981, may be considered the consumer guide for the condominium therein described for purposes of this Section. (1981 L.M.C., ch. 26, § 2; 1982 L.M.C., ch. 2, § 1; 1984 L.M.C., ch. 24, § 14; 1996 L.M.C., ch. 13, § 1.)
Editor’s note-Section 11A-7(c) (formerly §11A-5(c)) is cited in Rockville Grosvenor, Inc. v. Montgomery County, 289 Md. 74, 422 A.2d 353 (1980).